2 Public Companies Capitalizing On #LasVegas Cannabis Market
FOREX INVESTORS Press Release LasVegas Cannabis Market Recreational marijuana has been an especially hot topic in the United States after Nevada became the fifth state to have a legal program on July 1st.
Companies levered to the Nevada marijuana market have benefited greatly from this and we want to highlight 5 companies levered to this opportunity.
• mCig (MCIG) issued a shareholder update last week and reported that its Grow Contractors division will shatter its previous record revenue numbers after it took on cultivation management contracts and delivered on its plan for cultivation and production ownership. Grow Contractors has a proven track record of success in Nevada and the boom in the state has led to an influx of requests for work. We are favorable on the company’s diverse operating structure, attractive debt-free balance sheet, its improving fundamentals, and its growth prospects, especially in Nevada and California.
LasVegas Cannabis Market
• Terra Tech (TRTC) is one of the best-known marijuana stocks and the company has benefited the combination of its leverage to the Nevada market and its investor awareness. While we are favorable on the company’s brand recognition, we are cautious with the shares due to Terra Tech’s financial structure which is dilutive in nature. The company has tried to raise capital through private placements but has not been successful. Terra Tech has only been able to raise capital by issuing and selling stock and this is not a shareholder friendly way to raise money. We would become more favorable on the firm if it sold off one of its subsidiaries (Edible Gardens) to support its cannabis related capital needs.